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Thread: China's GDP growth to hit 11.7% in 2007

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[quote=JOHNNY512,246785]According to  Xinhua News Agency, the Asian Development Bank(ADP) released a report on Monday. The report states that brisk exports, strong investment and buoyant consumption will lift economic growth in China to 11.2percent this year, with the inflation rate breaking 4 percent.  The earlier estimate is 10 percent.

Zhuang Jian, a senior economist of ADB's China Resident Mission, says that China's economy grew faster than expected in the first half of 2007, and  the growth rate of  11.5percent is the highest rate since1994.

Among the three triggering factors, China's export has been brisk for quite a long time.  The rubust investment is overshadowing its rivalries. As for the buoyant consumption, China's Consumer Price Index (CPI) is alarming. The inflation barometer is estimated to be 4.2 percent this year , which far exceeds the previous forecasts of 1.8 percent.

The ADB report also points that China's exports rose by 27.6 percent in the first half, surpassing imports growth of 18.2 percent, lifting the trade surplus to 112.5 billion dollars.

The report also estimates that China will face three major challenges in the future economic growth: the higher inflation than expected, the excessive liquidity of finance propelling the stock and property prices, and the country's over-reliance on exports and investment for growth in favor of private consumption.

How is China's economic outlook? Bright but still arduous!

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